Ok, sorry about that. I must be remembering it wrong. And I have the E300 with me today so I can't look at it.
You're right - it has to go back together somehow. There is a rectangular "button" in the threaded part of the cylinder. That button is what keeps the black ring from turning, and it retracts into the cylinder when you push the pin. But of course you can only push the pin when the key is in #1.
It seems as though you should be able to screw that ring in enough to get the key in. But then you're back where you started.
Hey, at least I kept you at the top of the page.